Straw pole out of interest. The ASX allows companies to pick and choose when to release handheld XRF results. Mostly it suits companies to keep it private, though everyone knows these results will be whispered and leaked because people talk, CR brokers are on the phone or having private briefings with management etc. We also know that for elements like REO and Nb that handXRF have a very low detection limit (5ppm for Nb when 1% Nb = 10,000ppm), so regardless of the 'repeatable accuracy' vs final lab assays, for all intent and purpose the handXRF results tell us early stage what the tenor of a discovery is.
One recent example from DRE, where they chose to release handXRF TREO results months before lab assays to prove they were onto a large high grade discovery.
"as expected", everyone knows that the variability between handXRF and the lab is both not significant and can be further reduced by calibration and a correlation adjustment factor. ASX argues that handXRF is unreliable and thus doesn;t have to be released, when obviously the variability is not usually relevant. Even if the handXRF was so wildly off as to be grossly misleading, so be it imo. Better everyone (insiders and outsiders) gets the info to consider and punt how they like then have material information undisclosed when 'continuous disclosure' is supposed to be the foundation of ASX markets bets practice (I know
).
Do readers think prefect should the enemy of the good (release no handXRF just in case it's misleading compared to lab assays 2-3 months away) leaving the market uninformed, or good better than hiding behind the perfect (release material handXRF results in early-stage discoveries so everyone is trading off the same level of information)??
GLTAH
(20min delay)